|20 October, 2019

China central bank says will continue to implement prudent monetary policies

Yuan currency is basically stable and credit is growing at a steady pace

People's Bank of China (PBOC) Governor Yi Gang speaks at a panel at the Boao Forum for Asia in Qionghai, Hainan province, China April 11, 2018.

People's Bank of China (PBOC) Governor Yi Gang speaks at a panel at the Boao Forum for Asia in Qionghai, Hainan province, China April 11, 2018.

REUTERS/Stringer

SHANGHAI - China’s central bank will continue to implement prudent monetary policies and create an appropriate financial environment for high-quality economic growth, Governor Yi Gang said, according to the bank’s website.

Yi also said that China’s economic growth remains basically stable, despite facing downward pressure. The yuan currency is basically stable and credit is growing at a steady pace, he said.

Yi made the remarks during a G20 meeting in Washington held Oct 17-18, according to a statement posted on PBOC’s website on Saturday.

(Reporting by Samuel Shen and John Ruwitch)

© Reuters News 2019

More From Policy